Third Party Risk management solution
Third Party Risk
Detect, assess, and minimize potential risks associated with suppliers, distributors, and partners and monitor them for any change in status with our Third Party Risk management solutions.
Building and extending relationships with third parties in order to achieve long term business goals can create complex supply chains that, over time, more accurately resemble interconnected webs. Knowing who you are dealing with within these webs becomes increasingly more difficult, yet increasingly more important in order to satisfy regulators and meet shareholder and customer expectations who are now demanding greater transparency and more responsible corporate behavior, in the interests of both reputational integrity and good investment practice. Our solutions can help uncover risk associated with sanctions, organized crime, fraud, money laundering, bribery and corruption, modern day slavery and country risk.
The US Foreign Corrupt Practices Act (FCPA), Conflict Minerals Rule (US Dodd Frank Section 1502), UK Bribery Act (UKBA), and the UK Modern Day Slavery Act, in addition to a host of other global regulations, have only increased the importance of establishing an effective third party compliance program.
Areas that have become particularly sensitive to both the public and private sector, and therefore likely to become the focus of increased attention are:
- Bribery and corruption
- Financial crimes and sanctions
- Slavery and human rights abuse
- Conflict minerals
- Environmental crime
Breakdown of third party relationships can often results in financial and reputational damage. Thomson Reuters is a trusted solution provider in the third party risk space and will work with an organization to structure the best third party risk management solution possible.
How can we help you?
Our solutions enables customers to effectively manage third party risk from initial screening and due diligence through to ongoing monitoring and training of employees and third parties.
- Unparalleled data coverage
- Strength in emerging markets
- Holistic approach to third party risk management
- Trusted brand
- Cost effective
- Innovative technology which integrates with existing internal systems
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Features and benefits
Download the results of an independent survey looking at how organizations today are managing the risks associated with their third party business relationships.
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